RE: Crypto Markets Are Exploding! Can the Market Keep Up? - Revisiting: A Note of Consensus in this Time of Cryptocurrency Chaos
This is a good article, but I doubt your assertion that we're in a bubble.
This is new technology with innovators across the board and it's the first time we've ever democratized the financial sector.
This means that it's now easy and accessible for people to experiment with economies and this is reflected in the various coins that you're seeing. This experimentation is exciting.
The value of any money though is what you can buy with it. As long as there are easy on and off ramps, and the developers are doing all they can to make the currency solid, stable and reliable, this isn't a "bubble" that will burst because it's just money flowing out of the old guard of finance and into the new.
That said, don't invest more than you can afford to lose into anything whether it's cryptos, stocks, real estate or whatever.
The very reason you are making comments like this is because we are in a bubble. Every shitcoin and their mom's developers say those same things.
No, I say it because it's a reflection of our markets.
We've had a couple of people sell, the market is there. Most early investors have made between 10x and 100x. If they were going to try to sell to lock in a profit, now would be the best time to do it. But they aren't, because they're interested in the business aspect of this.
A VIVA Crown isn't a currency in and of itself. It's a digital asset that confers specific rights within the VIVA Ecosystem.
My opinion is that makes VIVA dramatically different than any other coin.
I'm curious to know what coins wouldn't be shitcoins in your book.
I mean it sincerely, what coins do you like and why?
Going back to your original topic and sorry for the thread hijack. But you've offered no support that we're in a bubble. The only thing you can point to is the price. But current prices don't tell the whole story. For example the price of real estate in the USA is already back to 2007-2008 levels. Is real estate in a second bubble? No, it's that inflation has finally caught up to the money injected into the system during the crisis.
You need to go back to the drawing board and ask "what are the motives".
Why are people buying these currencies?
It seems like a lot of these are being bought up by people who were in the mainstream financial sector and have decided to come over and see what all the fuss is about. People for whom a million dollar buy is just a line item.
The entire marketcap of the entire crypto scene is still lower than the market cap of say Google, or Apple. This tells me it's not a bubble but healthy growth.
You're running around like chicken little saying the sky will fall, and yeah it probably go down a few percentage points. It could stand a correction. But that's not a bubble, that's just a healthy market.
I don't have time tonight to outline everything in a way that will explain my point. I urge you to watch this video
~10 min that does a good job mentioning many of the points I would be making.
To answer quickly, the only projects with my blessing are Bitcoin, Ethereum, Monero, ehhhh Steem (hate the launch, like the product)